Horizontal drilling, multi-stage fracing drive increase in U.S. crude production

U.S. crude oil output is forecast to rise 815,000 bopd this year to 7.25 million bopd, according to the February 2013 Short-Term Energy Outlook (STEO). Production is expected to rise by another 570,000 bopd in 2014 to 7.82 million bopd, the highest average level since 1988. Most of the U.S. production growth over the next two years will come from drilling in tight formations in North Dakota and Texas. This article explains the underpinnings of EIA’s short-term forecast for crude oil production.

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